Practice with a demo account

[Batilda Bruno]

It is important for beginners to practice with a demo account. Because forex trading requires experience and knowledge. Traders can use any strategy without risk in the demo account. Many brokers like Eurotrader offer it to their traders for free. But building trading psychology in the demo account is not possible. Traders need real accounts regarding this matter.

[Layla Browning]

Knowledge develops when you do demo trading. If consistent profit is made in demo trading, then real trading should be joined. It is possible to make a profit by developing a strategy through demo trading. So every trader should use the demo platform first.

[Bruno]

Beginners must be very serious about trading. Before starting the trade in forex market they should know about the basic of forex. With the help of a demo account this problem can be solved easily. Demo account is the best option to know about the basics of forex. I used demo account of Forex4you at first to know the basics. Still now I am trading under this broker.

[Albert A]

Demo trading could be very effective when you are new. Demo trading is important if you know how to use it. No matter you are new or old traders. If you are old traders you must know with a single strategy you can not make profit all the time. We need to change according to the market condition. To test your strategy demo account is the best place. You can't lose money by testing on live account. I am trading with Eurotrader, a regulated broker. It provides me a wide range of services including low spreads, upto 1:500 leverage from 1:50 and instant trade execution.

[Layla Browning]

Demo trading should be done first to gain trading profit. If a trader supplies directly to the trading without practicing the demo, a lot can be lost. A trader must first think of making a profit by developing a strategy. These are the lessons I learned from Eurotrader platform.

[Charles Finn]

Loss is a part of forex trading. There are some traders who can not bear the losses. But if you want to make profit from the market you have to be positive. If you take decision emotionally after the loss, it can be more dangerous. You should have the confidence to recover that losses and convert the losses into profits. A good broker can help you to take decision while you are in loss. I am trading with Tpglobalfx. They help me to take decisions when I have losses. They help me to be positive all time. By the help of them I can recover my losses and make profits consistently.

[fxdong]

In forex - practice makes it perfect (https://www.independentinvestor.com/forex/brokers/demo-accounts/); if you really want to succeed, test and improve and always remember that the more you practice the more you improve.

[Rose Fraise]

Forex trading is an alternative business that can be done with little money but can earn a lot of money. You can start trading with the best Forex broker in the business. I am trading with Eurotrader and it's a good company. There are many advantages of this broker too. Such as low cost-efficient, no additional fees on withdrawal, no hidden charges, free education courses on the market.

[jjvor]

I think demo accounts are useful to both beginners and experienced traders to test their strategies, EAs and to even just learn how to trade.

[FXOpentrading]

A demo account is free to place for traders making backtest any trading strategy, for beginner will become the free place to learn trading without the risk losing real money, because demo account only use virtual money or fake money, keep practice in demo account can giving good experience, in FXOpen also provides demo account for STP and ECN account where trader can use the trading platform mt4 or mt5

[jjvor]

It's not only free, it's safe too. One cannot lose money with a demo account, which makes it a very conductive environment for learning.

[FXOpentrading]

A demo account is only for practice to learn to trade, but the main point in trading is how to make profits consistently in the real trading account, this is maybe not easy for many traders and they lose the spirit in trading, sometimes they need the motivation to wake up and learn to trade again, forex is potential to make thousands percent profit if we have good skills.

https://youtu.be/XOEdR2w9pqY

[jjvor]

If one cannot trade consistently on a demo account, they won't be able to do so on a live account either. One needs to take demo trading very, very seriously.

[Ubasi Janin]

Well, I practiced my demo more than a year! Basically I started my demo practice with my Zero trading knowledge & then, Forex Educational sources weren’t that much available as like nowadays! But I never loss my hope, I basically focused on my learning process & till now Im leaning!

[jjvor]

Have you moved to a live account now? Do you feel confident in your performance on it? I have been on one for quite a while now, but I confess I am struggling sometimes.

[FXOpentrading]

Learn forex trading to become a successful trader is the most expectation among trader, in forex, it is possible to make huge money, but also risk is high, the trader needs to understand the risk that involved and walking the step carefully, don't get bankrupt because forex trading, just spent money that affords to lose before imagine easy earning here, choose a reliable broker.

[Rose Fraise]

The significance of demo trading is simply unavoidable. None but new traders can feel how important demo trading is. They start their trading journey with trading in demo account. Demo accounts incorporate the real nature of Forex except the currency because a demo account is funded with all virtual money.

[FXOpentrading]

Demo account is good for begnner to learn forex trading, but before start practice, good also learn about leverage and the concept, how it works

Work Hard, Travel Farther

https://i.postimg.cc/hGLpFN03/HardWork.jpg

Understand How Leverage works (https://fxopenforum.com/threads/162873-How-Leverage-works)

Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members.

Learn Forex Trading with FXOpen Forum (https://fxopenforum.com/)

https://i.postimg.cc/sDB9H17G/Forum-Buttonb.jpg (https://fxopenforum.com/)

[jjvor]

Using a demo account is incredibly useful, especially if it reacts the same way the live account by the same broker does. If it doesn't, one should change the broker.

[FXOpentrading]

For beginners traders advisable to use a demo account for practice in real market conditions, in a demo account, they can try how to use trading platform, modify orders, using all features on the trading platform and its functions, a demo account will become a free place without any risk, find suitable trading system and strategy is good in a demo account before spent money in real account, for experienced trader sometimes when they fail, hence need motivation, here is good motivation for forex trading.

[jjvor]

I always use a demo account to practice. I see no reason to take any risks and end up losing money if I used a live account, it's just not a good idea.

[Hexlar48]

As per my view, it's always a wise idea to trade on a demo account at least six months before joining in real account. Though you can choose any demo platform but out of them FreshForex broker's one will be absolutely good since they always update their software by expert developers.

https://i.imgur.com/9wV7fN2.png

[Batilda Bruno]

No doubt, demo account is the best way to start with! I see, nowadays a number of new traders try to beginning their trading career by micro account! But, I used only the demo! I didn’t have any psychological issue since; I was so much serious in my demo! I used my practice account more than 16 months.

[FXOpentrading]

In forex trading business, beginner trader they need to learn basic education of forex, here about chart pattern included in beginner class education, and needs trader to understand, because chart pattern in forex will help trader to analyze the market based in technical analysis. learn more about chart pattern.

The Bigger the Challenge, The Bigger the Opportunity to Grow

https://i.ibb.co/bNcsVGD/Bigger.png

Reading and understanding the chart Pattern The Candlestick (https://fxopenforum.com/threads/176910-Reading-and-understanding-the-chart-Pattern-The-Candlestick)

Understand in Details and Get the Answers from the Experienced Forex Traders and FXOpen Forum Members.

Learn Forex Trading with FXOpen Forum (https://fxopenforum.com/)

https://i.postimg.cc/sDB9H17G/Forum-Buttonb.jpg (https://fxopenforum.com/)

[jjvor]

One certainly needs to know the basics, but I also think one should build on those basics. You can't succeed on basics alone.

[Batilda Bruno]

It is the most frequently asked question but newbie traders hardly understand the significance of trading in demo account. Jumping onto the live account cannot carry profit for a trader. Rather trading in demo account helps increase the trading skill and capability. Eurotrader broker allows traders with an efficient and smooth demo trading account.

[jjvor]

I agree. Newbies that use a live account from the get go end up losing so much money and often just quit trading prematurely. One should take time to learn, profits come later.

[Rose Fraise]

Traders should use demo account as their weapon so that they can ignite their skill through trading in demo account. Every broker allows traders with demo account so does Eurotrader broker. The broker allows traders with different account types. Eurotrader offers a smooth demo trading platform so that their traders can benefit from it.

[Rose Fraise]

Demo account is funded with virtual cash and this account is offered to traders so that traders can pracrice here. Every broker allows traders with demo account so does Eurotrader broker. The broker allows traders with different account types. Eurotrader offers a smooth demo trading platform so that their traders can benefit from it.

[jjvor]

Demo trading is a great way to learn without any pressure, but it's important to learn how to trade with real money too, sooner or later.

[FXOpentrading]

Demo account designed for traders that want to learn and practice trading without involving the risk at all, using virtual money provided by broker can be used for backtesting a trading strategy, for beginners they can learn how to trade implemented trading strategy that already learned, but should understand, profit in demo account unwithdrawable.

[jjvor]

Demo accounts are useful to experienced traders as well, since they can use it for testing purposes.

[FXOpen Trader]

Demo accounts are useful to experienced traders as well, since they can use it for testing purposes.

We should start doing our practice in the Demo based trading accounts.

[Batilda Bruno]

Unfortunately, new traders are not interested in demo! Strategy-development should be the first and foremost preference of a trader because if you take an interview of expert traders, you can see that every expert trader has their own way of trading. This strategy is made according to their experience over the past years they traded Forex. It is not built overnight, so flourish your trading with a better strategy. So, enhance your trading experience and enjoy smooth trading with Eurotrader broker.

[jjvor]

True, it takes years of practice to get even remotely good at trading, and even then profits are not guaranteed.

[FXOpentrading]

Newbie traders may be less interested in practicing in the demo because they have the wrong mindset, where to want to make a quick profit without learning in practice, or they think a demo account is only a waste of time because making a good profit is useless due money unwithdrawable, here depends to each newbie will treat, if they seriously to learn, a demo account is free and place to practice.

[FXOpen Trader]

Newbie traders may be less interested in practicing in the demo because they have the wrong mindset, where to want to make a quick profit without learning in practice, or they think a demo account is only a waste of time because making a good profit is useless due money unwithdrawable, here depends to each newbie will treat, if they seriously to learn, a demo account is free and place to practice.

When we are making use of the DEMO Trading accounts we can start learning better and also Fast.

[FXOpentrading]

When we trade using an ECN account like in FXOpen, we also need to pay attention to trading in certain market hours because when we trade in low liquidity, the spread will increase and often this occurs in Sidney and Asian markets, usually I will check the average spread on the time before making a trading order to make sure the spread number is normal.